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Financial highlights - Group
| Income statement | ||||||||
|---|---|---|---|---|---|---|---|---|
| (Amounts in percentage of average assets) | ||||||||
| Q4 2019 | Q4 2018 | 2019 | 2018 | |||||
| NOK million | % | NOK million | % | NOK million | % | NOK million | % | |
| Net interest income | 339 | 1.79 | 309 | 1.76 | 1 314 | 1.79 | 1 179 | 1.70 |
| Net commission and other operating income | 60 | 0.32 | 52 | 0.29 | 219 | 0.30 | 207 | 0.30 |
| Net return on financial investments | 15 | 0.08 | 4 | 0.03 | 74 | 0.10 | 41 | 0.06 |
| Total income | 414 | 2.19 | 365 | 2.08 | 1 607 | 2.19 | 1 427 | 2.06 |
| Total operating costs | 168 | 0.89 | 156 | 0.89 | 646 | 0.88 | 607 | 0.87 |
| Profit before impairment on loans | 246 | 1.30 | 209 | 1.19 | 961 | 1.31 | 820 | 1.19 |
| Impairment on loans, guarantees etc. | 15 | 0.08 | 12 | 0.07 | 50 | 0.07 | 16 | 0.02 |
| Pre-tax profit | 231 | 1.22 | 197 | 1.12 | 911 | 1.24 | 804 | 1.17 |
| Tax | 41 | 0.21 | 60 | 0.34 | 200 | 0.27 | 203 | 0.29 |
| Profit after tax | 190 | 1.01 | 137 | 0.78 | 711 | 0.97 | 601 | 0.88 |
| Statement of financial position | |||
|---|---|---|---|
| (NOK million) | 31.12.2019 | % change YTD 2019 | 31.12.2018 |
| Total assets 4) | 74 875 | 5.4 | 71 040 |
| Average assets 4) | 73 496 | 5.9 | 69 373 |
| Loans to and receivables from customers | 64 029 | 6.1 | 60 346 |
| Gross loans to retail customers | 43 815 | 4.5 | 41 917 |
| Gross loans to corporate and public entities | 20 441 | 9.8 | 18 616 |
| Deposits from customers | 36 803 | 6.9 | 34 414 |
| Deposits from retail customers | 21 685 | 5.1 | 20 624 |
| Deposits from corporate and public entities | 15 118 | 9.6 | 13 790 |
| Key figures and alternative performance measures (APMs) | ||||
|---|---|---|---|---|
| Q4 2019 | Q4 2018 | 2019 | 2018 | |
| Return on equity (annualised) 3) 4) | 11.8 | 9.5 | 11.7 | 10.6 |
| Cost income ratio 4) | 40.6 | 42.7 | 40.2 | 42.5 |
| Losses as a percentage of loans, guarantees etc. (annualised) 4) | 0.09 | 0.08 | 0.08 | 0.03 |
| Gross problem loans as a percentage of loans, guarantees etc. | 1.49 | 0.62 | 1.49 | 0.62 |
| Net problem loans as a percentage of loans, guarantees etc. | 1.14 | 0.46 | 1.14 | 0.46 |
| Deposit-to-loan ratio 4) | 57.5 | 57.0 | 57.5 | 57.0 |
| Liquidity Coverage Ratio (LCR) | 165 | 158 | 165 | 158 |
| Lending growth as a percentage 4) | 0.6 | 1.2 | 6.1 | 6.1 |
| Deposit growth as a percentage 4) | 1.8 | -0.8 | 6.9 | 4.9 |
| Capital adequacy ratio 1) | 21.5 | 19.6 | 21.5 | 19.6 |
| Tier 1 capital ratio 1) | 19.3 | 17.6 | 19.3 | 17.6 |
| Common Equity Tier 1 capital ratio (CET1) 1) | 17.4 | 16.0 | 17.4 | 16.0 |
| Leverage Ratio (LR) 1) | 8.0 | 8.1 | 8.0 | 8.1 |
| Man-years | 357 | 361 | 357 | 361 |
| Equity Certificates (ECs) | ||||||
|---|---|---|---|---|---|---|
| 2019 | 2018 | 2017 | 2016 | 2015 | ||
| Profit per EC (Group) (NOK) 2) | 34.50 | 29.60 | 27.70 | 28.80 | 25.25 | |
| Profit per EC (Parent Bank) (NOK) 2) | 32.00 | 28.35 | 27.00 | 29.85 | 25.70 | |
| EC fraction 1.1 as a percentage (Parent Bank) | 49.6 | 49.6 | 49.6 | 49.6 | 49.6 | |
| EC capital (NOK million) | 988.70 | 988.70 | 988.70 | 988.70 | 988.70 | |
| Price at Oslo Stock Exchange (NOK) | 317 | 283 | 262 | 254 | 188 | |
| Stock market value (NOK million) | 3 134 | 2 798 | 2 590 | 2 511 | 1 859 | |
| Book value per EC (Group) (NOK) 4) | 320 | 303 | 289 | 275 | 257 | |
| Dividend per EC (NOK) | 17.50 | 15.50 | 14.00 | 14.00 | 11.50 | |
| Price/Earnings (Group, annualised) | 9.2 | 9.5 | 9.4 | 8.8 | 7.3 | |
| Price/Book value (P/B) (Group) 2) 4) | 0.99 | 0.93 | 0.91 | 0.93 | 0.73 | |
| 1) Incl. proposed allocations | ||||||
| 2) Calculated using the EC-holders' share (49.6 %) of the period's profit to be allocated to equity owners. | ||||||
| 3) Calculated using the share of the profit to be allocated to equity owners. | ||||||
| 4) Defined as alternative performance measure (APM), see attachment to the quarterly report. | ||||||